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this
is another quesition, I assume this is for trades that involve margin, does this
trigger if you are not using margin or only buying options and what is
trigger that determine if you are a daytrader
<FONT face=Tahoma
size=2>-----Original Message-----From: Todd Horton
[mailto:toddao@xxxxxxxxxx]Sent: Wednesday, November 07, 2001 1:58
PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT] The
SEC just regulated me out of a job........On Wed, 7
Nov 2001 11:10:58 -0800, you wrote:>>I was just informed by my
broker that I am fortunate enough to meet the SECs rewuirements as a "Day
Trader". I have been essentially swing trading a small account because, well,
I dont have enough cash to open a big account. I tend to get out of my losers
very quickly and hold on to my winners for 2 or more days. I thought thats
what trading was, cut your losses, let your winners run. For example I had 2
longs and 1 short going into yesterdays rate cut. My short (INTU) was stopped
out for a $1.30 loser but one of my longs (WEBX) made me $3.50 and another
(EBAY) is currently up about $2. This of course makes me a day trader although
i held WEBX for 3 days and have had EBAY for 2 and counting. The reason is
that about 5 times a week a trade goes bad and I have to get out in the same
day. My plan is working very well, I am up about 5 points this week already
and make at least a little money almost every week. But because I do not have
$25000 the SEC has forced! my broker to shut down my>>account for a
week. I am currently averaging a return of about 10 -13%....per month. I think
I know the answer to this but outside of finding a loan shark.........is there
anything I can do about this?>>>>By the way......I am
allowed to trade futures and/or options. I think I am about 2 for 20 on
options trades over the years and accept the fact that, at this point, I just
dont have enough knowledge to make money with them. Or I could trade the E
MIni S&P, with its margin of 10:1...that is obviously much less risky than
doing 50 to 100 share lots of a stock with a proven method
(sarcasm).>>>>Any help would be appreciated...or maybe I
just needed to vent a little....looks like I am shut down after making 10%
most months. I am now going to look for my man Huggy Bear to see if I can get
one of those 88% (per month) easy payment loans.divide your
account into two, use one for 5 trades then let it restand use the other
accountTo
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